Become a Sierra Charts user (14-day trial available) and then you can see the same DAX trading strategy that I do. Come and get access the fantastic intraday strategy.
Install Sierra Charts
The intraday strategy works for Sierra Charts users. For a trial of the software, click the link above to get started.
Find your username under Help >> About on the menu in Sierra Chart. It starts with “Registered To”.
Once Chris confirms that you have been added, you will need to restart Sierra Charts and then you are ready to use it.
Simply send Chris a few details below (must include your Sierra Charts username) and he can tell Sierra Charts to install it automatically to your profile. Easy.
How To Install
Now the DaxTrader Intraday study has been added, it is ready to go.
Double click on the study (on the right-hand side it will appear in your Studies to Graph section).
Click the Settings and Inputs tab.
The study will work straight away, but you can change some of the settings and inputs here if you wish.
Learn More About The DAX Trading Strategy
DAX Trading Strategy Top Tips
Chris uses this strategy on a 2-minute time-frame. However, you can try it on any time-frame you like.
This strategy is designed for indices. But you can use it for other markets if you want to.
If the candle closes and the arrow is still there, then it is a signal to trade in that direction.
If you don’t set a stop loss, then you are failing to use the strategy correctly. Set it behind the dots.
Once you have defined the stop loss, the target is easy to decide. It’s a straight 4:1 reward ratio.
If your signal prints with yellow candles, then walk away. Do not trade the yellow candles.
Don’t just trade every signal. Choose your trading sessions carefully. This is a momentum strategy, so it will be most effective when you get momentum. We find mometum happens during ‘session overlaps’. This means the London open and the U.S. open. Trade around those times and ignore the rest of the signals.